4 ms·
As with the the Chouinard / Patagonia situation, the "giving away company" line is unfortunately just another example of bad headline writing. One really must
by tony_cannistra 4y ago
As with the the Chouinard / Patagonia situation, the "giving away company" line is unfortunately just another example of bad headline writing.
One really must examine the individuals making this decision + their track record before we make judgments about the merits of this choice for folks other than the family. Does Yvon's track record with Patagonia align with my values and make me trust his choice as being truly "beneficial" for the planet? Yes.
Did the Chouinard family also avoid $700 million in taxes by "giving away the company" (e.g. putting the shares in one or more trusts, like Hobby Lobby family will). Also yes. [0]
[0]: https://www.bloomberg.com/news/articles/2022-09-15/patagonia-billionaire-who-gave-up-company-skirts-700-million-tax-hit https://www.bloomberg.com/news/articles/2022-09-15/patagonia...
- Yujf 4y agoHe would owe the tax of he would sell the company. I fail to see how that is relevant? If he simply kept it he would also not owe the 700 mil.
- snarf21 4y agoThe trust avoids taxes at his death. We need new laws so that when you get money, you pay taxes. Enough of the loopholes for the 0.1% but no one else.
- sam_lowry_ 4y agosuccession planning